Tag Archives: ICO

How much cash an ICO raised has become “less important” to markets, new research says this week after revealing 70 percent of ICOs have lost the money they raised.

Markets ‘Shrug Off Cash-On-Hand’

As part of the latest edition of its weekly newsletter, Diar investigated the current state of the ICO sector, which despite this year’s cryptocurrency bear market has raised more than in the ‘boom’ year of 2017.

“Diar number crunching shows that 70% of tokens are now valued at less than what was raised during their ICO,” it highlights.

And with tokens having no equity representation, markets have shrugged off cash-on-hand as part of an enterprise valuation.

While many investors insist the current climate is a lull which will reverse, the ‘cash-on-hand’ figures make for a distressing reading.

A $6 Billion Washout?

As Bitcoinist also previously reported, projects such as Bancor and Sirin Labs – well known at the time of their token sales – have since faded from view, their market cap crashing to the tune of tens of millions of dollars in the process.

Sirin Labs 00, which plans to release its Blockchain phone this November, topped the list, losing $141 million in market cap from the $158 million it originally raised.

Bancor 00 lost $80 million while making up the top three are PumaPay ($102 million) and Envion ($96 million).

“As it turns out 402 out of 562 projects that raised over $8.2 (billion) are now worth $2.2 (billion) – an eye-watering $6 (billion) loss in market capitalization value against actual cash paid out to development teams,” Diar founder and editor Fadi Aboualfa continued on Twitter about the findings.

Bitcoinist recently produced a rundown of the ‘winners and losers’ in the ICO world, based on a rankings project by cryptocurrency researcher Stephen Zheng released earlier this month.

What do you think about the current state of the ICO market? Let us know in the comments below!

ICO failure rates are increasing. However, there seems to be a trend of fewer projects receiving bigger sums. Due to regulatory pressure, ICO bans, and a bear market, investors seem to be taking a new strategy to funding blockchain projects.

ICO Failure Rates Surge

There is new evidence to suggest that one in two Initial Coin Offerings (ICOs) failed in Q2 of 2018, while those that succeeded suffered huge loses. This is according to the agency, ICORating, whose data suggests 55% of ICO’s failed to complete in Q2 of 2018.

The difference in returns between Q1 and Q2 is significant. In Q1, ICOs enjoyed an average return of almost 50%. In Q2, returns equaled -55%.

According to Michael Spencer, Editor of Future Sin, this as a sign of blockchain projects deteriorating in quality. But, he believes there is more than meets the eye. Other factors are at play. In particular, regulatory pressure from the SEC, ICO bans, and the Bitcoin price slump.

“While ICOs exploded from almost nothing to be a multibillion-dollar market in 2017,howeverin 2018 they appear even more speculative, risky and dangerous to the layperson investor,” Spencer writes.

Less Projects, More Money

But while the failure rate is increasing, investment is not. In fact, the amount of money pouring into ICO tokens is rising. In fact, Business Insider notes that out of a total 827 ICO projects, investment totaled $8.3 billion in Q2 and $3.3 billion in Q1.

At the same time, fewer projects are attracting bigger sums, suggesting that bigger players are entering the market. Spencer also interprets this is a pivot towards private blockchain projects. He explains:

It spells a movement towards bigger players that we are seeing in the larger space; where private instead of public blockchains might be more the order of the day as bigger players enter the space: e.g. Bakkt. Bakkt’s focus on digital assets waswildlyacclaimed by crypto insiders and the media as beingpotentiallydisruptive.

ICO Investment Dependent on Project Location

As the blockchain market continues its rapid development, investors are adapting as the country of registration is becoming an important factor. In other words, the country in which the company’s legal entityis registeredat the time of the ICO.

North American startups attracted the bulk of funding, according to the ICO Rating report, with 64.6% of the total raised in the quarter. But smaller countries are increasingly hosting projects that are attracting larger sums.

The total amount of ICO funding per country presents an interesting picture:

Malta: 8 projects raised $113M

Cyprus: 8 projects raised $124.7M

Isle of Man: 2 projects raised $37M

This is compared to $393.7M and $301M raised in the US and UK, respectively. Put simply, projects within countries that have less red tape and friendlier regulatory frameworks tend to raise more capital per ICO.

In any case, as blockchain technology develops and regulations play catch up, ICOs appear to also be adapting to this borderless new industry.

Is the ICO space experiencing a cool-down? Or is it only getting started?

China-based cryptocurrency exchange BTCC co-founder Bobby Lee continued the persisting narrative on centralized blockchains May 30, likening them to “databases.”

‘Complete Intellectual Dishonesty’

In a series of tweets, Lee echoed recent comments by cryptocurrency speaker and educator Andreas Antonopoulos on the lack of appeal of blockchains which are not decentralized.

“People don’t realize that Blockchain should be distinct & different from Databases, invented decades ago!” he wrote.

Bitcoin’s real Blockchain was only invented in 2009. Everyone using a digital ledger is calling it Blockchain, (without) regards to functionality. Complete intellectual dishonesty!

People don’t realize that Blockchain should be distinct & different from Databases, invented decades ago!Bitcoin’s real Blockchain was only invented in 2009.Everyone using a digital ledger is calling it Blockchain, w/o regards to functionality.Complete intellectual dishonesty!

Criticism of blockchain has become a current topic of debate since last month. Speaking at a Polish conference, Antonopoulos had said that the technology without decentralized principles was a “very bad database.”

“Bitcoin is the future and Blockchain is bullshit,” he summarized.

95% Of ICOs Are ‘Database Projects’

A month later, Bitcoin developers Jimmy Song and Johnathan Corgan both took issue with the inability of cryptocurrency users to differentiate between blockchain “buzzwords” and genuine innovation, Song bringing the topic to the stage at Consensus 2018 in New York.

“…Because so many people are new, or because they’re not confident in their assessment of what was just shown, they think they’re missing something. And so they politely clap and ignore the nagging doubts in their mind,” he commented on the problem.

Lee meanwhile more closely paraphrased Antonopoulos, adding that “95%” of ICOs “claim to be (Blockchain) projects, when in fact, they’re just (database) projects.”

“All data going into the Blockchain needs to be independently & publicly verifiable, and thus insertable by anyone,” calling such database projects “lame.”

This week, even the Chinese government weighed in on the providence of blockchain “projects,” claiming 92% had already vanished and that their average lifespan amounted to just over one year.

The findings, however, appeared not to include China’s own blockchain offerings.

What do you think about Bobby Lee’s perspective? Let us know in the comments section below!

In a surprising turn of events, the US Securities and Exchange Commission has launched its own initial coin offering dubbed HoweyCoins.

‘A Hot Investment Opportunity’

Anyone looking for a hot new initial coin offering (ICO) should look no further than the US Securities and Exchange Commission’s brand new token sale for HoweyCoins. States the regulatory authority in an official press release:

If you’ve ever been tempted to buy into a hot investment opportunity linked with luxury travel, the Securities and Exchange Commission has a deal for you.

Check out the SEC’s Office of Investor Education and Advocacy’s mock initial coin offering (ICO) website that touts an all too good to be true investment opportunity. But please don’t expect the SEC to fly you anywhere exotic—because the offer isn’t real.

Unsurprisingly, the SEC isn’t actually launching its own token sale. Rather, the independent agency of the United States federal government has set up a mock website in order to educate investors about the perils of investing in fraudulent ICOs.

Clicking “Buy Coins Now” on HoweyCoins.com — a tongue-in-cheek reference to a landmark US Supreme Court decision in 1946 — will not actually sell you coins, but rather offer tools and advice from the SEC and other financial regulators.

The website has reportedly been set up to protect regular investors, and “features several of the enticements that are common to fraudulent offerings, including a white paper with a complex yet vague explanation of the investment opportunity, promises of guaranteed returns, and a countdown clock that shows time is quickly running out on the deal of a lifetime.”

Fraudsters can quickly build an attractive website and load it up with convoluted jargon to lure investors into phony deals. But fraudulent sites also often have red flags that can be dead giveaways if you know what to look for.

The rapid growth of the ‘ICO’ market, and its widespread promotion as a new investment opportunity, has provided fertile ground for bad actors to take advantage of our Main Street investors. We embrace new technologies, but we also want investors to see what fraud looks like, so we built this educational site with many of the classic warning signs of fraud. Distributed ledger technology can add efficiency to the capital raising process, but promoters and issuers need to make sure they follow the securities laws. I encourage investors to do their diligence and ask questions.

HoweyCoins.com does indeed look a lot like the vast majority of websites offering ICOs and may be interpreted as a clever and funny way to educate investors against fraudulent schemes — as opposed to simply providing bullet points on a government website.

What do you think of the SEC’s new mock ICO? Do you think this is a positive move in the education of investors against fraudulent ICOs and bad actors in the cryptocurrency space? Be sure to let us know in the comments below!

Arbitrage exists as a result of market inefficiencies and would therefore not exist if all markets were perfectly efficient. How does one capitalize on this market phenomenon?

A trader who, in 1970, pioneered a computerized trading system once said:

The elements of good trading are: (1) cutting losses, (2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance.

This is, of course, Ed Seykota, a former commodities trader. A lot has changed since he first introduced this system, with the onset of blackbox and algorithmic and high-frequency trading, it is harder than ever for point and click traders to make money.

The market has evolved and the inefficiencies that it suffered from in the 70s are unlikely to return. However, while the capital and debt markets are now highly efficient and, for the most part, very liquid, the same cannot be said for cryptocurrency markets. For one, the dissemination of information to the trading community is highly inefficient. The systems that aggregate volume and other data from various exchanges are still in their infancy and most importantly, the size of the trading community is growing every day.

Nobody Knows If a Stock Is Going to Go Up, Down, Sideways or in Circles

Those that have seen the film “Wolf Of Wall Street” will remember the scene with Matthew McConaughey and Leonardo DiCaprio, where Matthew McConaughey goes on to say “Nobody knows if a stock is going to go up, down, sideways or in circles.”

Is trading an art, a science, or is it no different than gambling and simply requires a degree of luck? Whatever camp you side on, crypto markets provide a unique opportunity to make very good returns on your investment. You don’t always have to be a trend follower or a contrarian, the smart way to approach crypto trading is by applying arbitrage models. The problem, of course, is standardizing the API data from the exchanges. While it is not an impossible task, it can be very laborious and requires a great amount of checking to ensure consistency between the different data feeds.

Despite the fact that the cryptocurrency markets are trading with extremely high-volume levels, they are not nearly as liquid as we might think. This market is still highly fragmented in a web of exchanges under very different jurisdictions. The liquidity is spread through various more or less trustworthy exchanges all over the world. The emergence of more trustworthy regulated exchanges has boosted the overall liquidity but has not yet delivered the desired effect of lowering spreads and slippage costs. Furthermore, increasing liquidity would definitely encourage significant institutional investments and promote mainstream adoption.

Trading Edge

Volatility is something that has discouraged this much sought after mainstream adoption. This measure is related to uncertainty with regard to the extent of price changes. High volatility is evidenced in sharp and unpredictable price swings, while assets with low volatility will see little or minimal fluctuation in prices over a short-term horizon.

There are various strategies one can follow to capitalize on the potential arbitrage opportunities that currently exist across crypto markets. No one can tell for sure how long these opportunities will remain available, as the broader adoption of these assets by the general public will invariably reduce bid/ask spreads and increase trading volumes. However, for now, one can simply make comparisons between different exchanges to understand the magnitude of potential returns on capital.

The following numbers should be taken as an indication, these are not fixed levels and are subject to change. The price of Bitcoin on HitBTC is 2.55% higher than the price of the same asset on Exmo. Nowhere in capital markets can such discrepancy occur with what is said to be a leading asset in the digital economy and the spread on altcoins can sometimes be even greater.

There are different ways to trade the same markets, directional, technical, contrarian, fundamental – or you can utilize a combination of the above and create a strategy that works for you.

What do you think of market structure and is regulatory uncertainty to blame for such fragmented markets? Let us know in the comments below.

India may be most well known for its Taj Mahal and Golden Temple. However, it is gaining a reputation in the crypto community as a place to find an extremely affordable provider of marketing services.

Marketing can be expensive, whether in-house services or outsourcing. In the fast-moving crypto world, it will also help in determining how successful your ICO will be. This in itself is a multi-billion-dollar industry, with, according to The Times of India, almost $3 billion being raised last year.

Having similar features as the good old crowdfunding business model, ICOs first rely on making their target market aware of their platform’s services before getting them to part with their hard-earned cash or crypto. This is where the marketing part comes in, and it also seems that this is where Indian marketing agencies are coming in too.

A Different Way of Marketing

More and more crypto platforms are outsourcing their ICO-marketing needs to predominantly Indian agencies. Not only do they offer a cheaper choice, these firms are also using apps like Telegram and crypto-industry-specific platforms to market these ICOs. This is quite significant as it means that these start-ups won’t have to deal with the recent bans by Google and social media giants, Facebook and Twitter.

However, even without the bans, Salim Ali does not believe that these big corporations are the way to go anyway. Ali is the CEO of Loyakk, a “blockchain-powered enterprise relationship management platform”, with an upcoming ICO. He said:

Facebook and Google AdWords hardly generate demand (for ICOs). Only a person new to the space would be googling about it.

Growing Business

Karnika Yashwant is the CEO of Key Difference Media, a Chennai-based marketing agency. He had this to say:

Two or three months ago, there were only a few platforms that helped in advertising. Now, a company going for an ICO will have a few hundred proposals from new marketing companies that are sprouting in India.

Yashwant has provided marketing services for 14 ICOs, most of which were led by European clients.

Saving Money

In addition to crypto community groups on Telegram, ICO clients usually also choose to advertise through a range of crypto websites. In the case of the latter, Yashwant added:

For a banner in a cryptomedia website, you’d have to dish out $10,000 a week.

This is a hefty sum, but usually payable in fiat or virtual currency. However, even though an ICO could net millions, platform founders could be looking to save money in the initial stages, which could be why the more affordable option of Indian agencies could be so alluring.

What do you think of crypto platforms using cheaper Indian marketing agencies for their ICOs? Let us know in the comments below!

People have already made fortunes from crypto fever and cryptofunds, and many more will make money as well. But not everyone.

The Cryptofund Lifeline

Like any rapidly developing market, the cryptocurrency industry provides opportunities, but there are only a few who can really use them. A significant share of the cryptocurrency market is owned by the those who mined it but have no idea how to handle it. Almost all of these people are at risk of ultimately losing their Bitcoin or Ethereum.

Cryptofunds help people survive in this market.For a Blockchain neophyte, such institutions are a throwback. Today, a company doesn’t need any ‘linings’ to raise money transparently and distribute profit.

Indeed, the structure of these kind of organizations is reminiscent of conventional venture funds. But they do work and are indispensable for the new economy.

Financial Bridges

Market expertise is the main product of any cryptofund. Funds form a team of professional traders and analysts, i.e. of those who are considered useless by the majority of Blockchain partisans in new economy.

Blockchain is characterized by transparent transactions, but it doesn’t necessarily mean the same for a business owner or a business model. Only experienced professionals can separate the wheat from the chaff and find reliable tools in a stack of hollow shells.

Cryptofunds play an important role in the cryptoeconomy. Among other things, they support new projects that create products and develop a Blockchain ecosystem. They also provide money to those who would probably never get a bank loan or investments from venture funds. It’s not necessarily because their projects are bad, but because neither banks nor VCs know how to work with blockchain projects and it’s doubtful that they’ll learn to do so anytime in the near future.

Meanwhile, a cryptofund’s global role is to raise money within the unregulated economy; it’s a bridge for institutional investors.

Explosive cryptocurrency growth attracts investors longing for risk, but it doesn’t mean they have enough money, and institutional investors will never take a risk without funds’ expertise. Truly large-scale projects can’t survive without big money and long-term finance, and the cryptoeconomy isn’t yet able to set up a strong bond with the conventional economy.

I would emphasize that we’re talking about the future. Right now, the market is still too small for major investors, but current growth rates will not keep them away for long. And until then, individual investors are the main source of money along with growing cryptocurrency rates which inflate funds’ value with no external sources.

Strong And Weak Spots

There are several other growth drivers for cryptofunds, apart from the desire of cryptocurrency owners to make their money work:

Low setup and management costs. The difference from conventional funds is immense. Executives can easily take all the profit, while the cryptoeconomy has avoided this for the moment.

Near-instant entry and exit. Thus, many players buy discounted tokens at pre-sales and then sell part of them on the stock market after fund’s listing. There’s nothing wrong with that – it’s standard behavior for speculators and long-term investors.

Openness, transparency and tokenization of cryptofundsare their integral features as explained by technology platforms. No auditor or disclosure could give you such transparency and publicity.

It may seem that this way money flow should be unstoppable and without any restrictions (shutupandtakemymoney!). ICO evangelists think the same way, but in real life, there are some restrictions that hamper the development of cryptofunds and cryptotools.

Lack of trust in the system.Technology transparency means nothing if you don’t understand its principles. Many find it hard to believe that some ephemeral 0 and 1 somewhere on the internet can guarantee something. In several years people will still have no good understanding of the basics of the cryptoeconomy, but they’ll get used to it. And that’s already something.

There is no legal bridge to the traditional economy.Major players are simply afraid to enter the sphere with a legal gray area. It’s also a question of time – state grindstones run slow but hard.

Limited access to liquidity.Due to the legal vacuum, there are no reliable cryptocurrency exchanges at the moment. The existing ones are dangerous, slow and have almost no obligation to their clients. And reputation doesn’t seem to matter a lot in the cryptoeconomy yet.

Technical issues of tokenization.A platform defines cyber resilience, security and productivity. It’s essential to choose the right one, even though this is really difficult.

Smart contracts.Smart contracts can either lead to success or ruin the whole business. In this sphere,developers are in high demand, and as a result, they are overloaded with work, extremely expensive and work very slowly.

In Need Of Change

The first three problems are long term one and will be resolved as the cryptoeconomy develops. But the latter ones can be tackled by active players.

The market desperately needs a simple, legal, technology-based and out-of-the-box solution for cryptofunds. The company that can deliver it will not only have a chance to beat out the competition but to boost the development of the cryptoeconomy, producing benefits for everyone involved as well.

The ICO is still booming; there’s a new way for companies to attract investment, while crypto holders know their “new money” now offers one more way to increase profits.

Feeding the Dream

Where there is demand, there is supply. The so-called “ICO full-range service” agencies promise the best quality, speed, and results with little or no input from the client’s side. All you need to do is pay.

I can personally vouch for the high interest in this type of service. I have tons of personal messages and emails from people asking to launch their ICO for a significant amount of money. But my response is always the same: there is no such thing as an “ICO turnkey project” and there never will be.

The thing is that if you could come to some company or agency with an idea andappropriate sum of money, and geta guaranteed outcome of $5 – 50 mln, I would do it myself! I would use my own money and launch three ICOs a week.

The crowdfunding mechanism works when you have a clear vision regarding your project and an experienced team able to execute it, not when your idea is sold in the right way. But with no talented managerial stuff or technical specialists, there might be no point in even discussing your project.

Full-range services for ICOs: Do they really exist?

There are differing offers for full range ICO services from marketing specialists, lawyers, and entrepreneurs, along with con artists willing to steal your money.

Every one of them has their vision of different aspects of the process. But how can a marketing specialist ensure all the legal aspects are covered? Or say, a lawyer manage traffic flow?

They’ll hire an expert in the relevant field using your money. In my personal opinion, there are no experienced “full service” teams of professionals on the market right now.

The unfortunate flip side of enormous growth in ICO activity is that the few experienced specialists out there will most likely charge very high fees for their services.

And if your project is not a tokenized Ponzi scheme, it might be a good idea to find another way.

And there is. What is it? It’s as simple as this: invite attorneys with relevant ICO experience and engage IR specialists with access to investor pools.

As for the rest of the ICO industry, social media marketing, traffic flow, media buying, and PR differ only by the platform you choose, settings, and professional contact list. Consider doing it yourself.

Almost all successful startups decided to go down this route once.

Ensure Your Transparency

Unfortunately, con artists have managed to undermine trust for some investors already. Those who are still interested demand transparency. This sounds fair, and you really need to invest in it.

The fact that ICOs and IPOs are becoming quite similar processes means that the market is maturing. There are even ICO ratings agencies.

You are fully capable of doing your own due diligence or getting help from experts. And if you have the community involved in your project, that will be a plus point for your potential investors. An involved community is always a good thing, so you should leverage them anyway.

I firmly believe that technology or a structure-based project will prompt industry growth. But I tend not to believe in fairy tales.

If you have serious intentions of launching a great project, hire professionals but manage the process personally. Make sure your investors’ money is safe.This is an English translation. Theoriginal articlewas published on Forbes.ru September 25, 2017.This article was written by Vladimir Smerkis, Managing Partner at The Token Fund.

What do you think about the best way of launching an ICO? Let us know in the comments below!

Less than a year after the industry began, running a Blockchain business using a digital token has suddenly become a lot more complicated.

ICOs Float Between A Rock And A Hard Place

The free-for-all of the first six months of 2017 when Blockchain startups and ‘projects’ created and sold tokens at will, often forhundreds of millions of dollars, has changed thanks to snap regulatory decisions.

In more liberal settings such as the US, the Securities and Exchange Commission (SEC) has sought to create a wary environment among Blockchain businesses looking to issue a token. According to its exact functions and technical make-up, a token may or may not conform to the legacy description of a‘security,’and issuers must act accordingly to stay above the law.

The UK has become the latest major economy to publish official guidance on the phenomenon.Literaturereleased Tuesday, September 12 by the country’s Financial Conduct Authority closely tracks the SEC.

“Whether an ICO falls within the FCA’s regulatory boundaries or not can only be decided case by case,” it states.

Most recently, however, a considerably harder route to ICO market control has come from China. Together with the US, it constitutes the largest participant in the industry, accounting for $398 million of its total$1.7 billionvalue.

As of September 2017, digital token sales arebannedin China, a decision even affecting completed sales retroactively, compelling some businesses to refund sale proceeds.

First Movers Dictate The Golden Rules

The situation poses obvious problems for China-based projects, who are now considering how to continue operating in a market where even fiat-to-crypto exchange could soon become illegal for the second time.

“Not a lot of countries have any type of regulation in place,”Blackmoon CryptoCEO Oleg Seydak told Bitcoinist about the current status quo.

Token issues will pay major attention to jurisdictions which have a position on the matter like USA, Singapore, China and comply with that regulation or avoid interactions with their citizens. Blackmoon Crypto is a Blockchain-based platform for tokenized investments, also preparing to launch an ICO. Like international platforms such as LakeBanker, the project faces a regulatory headache launching in such an uncertain global environment.

When asked what industry participants should do to bulletproof themselves against unpleasant regulatory challenges, Seydak’s immediate reaction is to create as strong an offering as possible.

“The best solution is to be cross-blockchain startup. But it’s hard from a technical point of view,” he said. “At the same time, it becomes more and more easy with each day.”

Shutting The Door For How Long?

Imbued against regulatory shuffling by technical design are ICO projects which have been years in the making, such asVinny Lingham’s Civic.

A steadfast delivery and plan for token use has come on the back of a highly controlled yet innovative token sale that ensured few doubts remained about developer integrity.

But so far, the interim method of choice for ICO-implicated businesses has simply been to deny participation to US and Chinese citizens.

The consequences of being lax about adherence are plain to see. This week, China’s regulators ordered even completed ICO campaigns to refund investors, while the scenario of a re-worked regulated ICO industry appearing in the country remain pure speculation.

Ahead of its planned ICO campaign, LakeBanker is therefore reviewing its options for both the short and long term. One thing is for certain: few cues will come from Civic, the platform having labelled Lingham’s sale“North Korean”in an article in August.

“At the beginning we will focus our resources on countries other than the US and China,” Lakebanker CSO Andrew McCarthy explained to Bitcoinist.

Our choices of the locations are based on two criteria: where our services are needed most and where legal overheads are not beyond reasonable. There are many countries that meet these two criteria better than the US or China.

The company has already converted to a de facto non-Chinese operation, having previously had only little involvement with the market. Chinese investors will also face initial exclusion.

In future, however, things could readily change, and such eventualities are already implanted into the platform’s roadmap.

“For the US and China some preparation work of the markets can be done in parallel, which include compliance/licensing, recruitment, and technology,” McCarthy added.

We will definitely shift our focus to the two biggest economies in the world in a year or two, when we have more streamlined processes, experienced operational teams, and good track records from other markets.

LakeBanker’s ICO is due to commence September 15 as a fixed-price sale, followed by a phase 2 Dutch auction in October.

Do you agree with the tactics of the ICO’s mentioned? Does the industry need more regulations? Let us know below!

Monster Byte Inc. owns a suite of long standing and profitable gambling websites that have been custom-built with proprietary technology owned by Monster Byte. Monster Byte is looking to raise additional funds to not only enhance their current consumer’s sites but also begin to resell their intellectual property and enter the B2B iGaming space.

[Note: This is a press release.]

This ICO is unique because the company has been generating revenue, adding users and enhancing its products since 2013. Instead of wondering if you are buying vaporware with the ICO you have a chance to share in the growth and profits of an established company.

From Sports Betting to Provably Fair Games

Monster Byte owns and operates Peerbet.org, Bit777.com, and BitcoinRush.io. Bitcoin Rush offers sports betting and a provably fair casino all custom built and originally founded as “casinobitco.in” in 2013.The sportsbook currently offers highly competitive odds and a daily cashback system that is not available at any other bitcoin sportsbook. Peerbet was established in 2012 and offers 1% edge dice games and an on-site exchange for various cryptocurrencies. Finally, Bit777 was acquired by Monster Byte in 2014 from UltraPlay LTD and is a flash based casino with 49 different games.

The sportsbook currently offers highly competitive odds and a daily cashback system that is not available at any other bitcoin sportsbook. Peerbet was established in 2012 and offers 1% edge dice games and an on-site exchange for various cryptocurrencies. Finally, Bit777 was acquired by Monster Byte in 2014 from UltraPlay LTD and is a flash based casino with 49 different games.

What will the ICO Funds be Used For?

First and foremost, Monster Byte is hiring several functions, including additional developers, and community managers.

The BitcoinRush.io sportsbook will be updated with a new UI/UX model and implement a system that earns between 2-4% per bet regardless if the player wins or loses.

Peerbet.org will be relaunched with a new modern design that will be responsive for tablet and mobile device play.

BitcoinRush.io will start accepting more coins including Waves, Ethereum, Litecoin, Dash, and others in time for the next NFL season in September.

B2B syndication of its games and API access to both traditional fiat and cryptocurrency gaming portals. The new line of business will supplement existing revenue streams.

Telegram messenger betting support. People will be able to place bets from their telegram app.

What do Token Holders Get?

Monster Byte Token will be issued exclusively on the Waves Platform due to the ability to easily trade tokens against other assets and cryptocurrencies all within the DEX, a very liquid decentralized exchange in the Waves LiteApp Wallet.

On a quarterly basis, all Monster Byte token holders are entitled to their share of the collective profit (revenue – expenses) of Monster Byte. Dividends will be paid in bitcoin, and detailed quarterly reports will be published to provide full transparency on all operations. A dedicated Slack channel will also be created to follow the day-to-day operations and development progress with the team itself.

When is the Monster Byte ICO? I Want in NOW!

The ICO pre-sale will begin on July 3rd, 2017 at 16:00 UTC, and extend until July 8th 16:00 UTC or whenever the pre-sale is sold out, whichever occurs first. During the pre-sale, 2,500,000 Monster Byte tokens will be sold at $0.08 USD, a 31.5% discount over the general sale. The general sale will open at July 8th at 16:00, and 7,500,000 Monster Byte tokens will then be sold at $0.11 USD.

Is There a Cap?

Yes, in total, Monster Byte anticipates raising $1,025,000 USD which gives Monster Byte a $4.4M post-money valuation. They chose not to have an open cap as savvy investors should know exactly what they are buying into, with a well-defined capitalization model.

A Unique Opportunity

This is your chance to invest in one of the fastest growing industries. Sports betting and online gambling is one of the best use cases for cryptocurrencies. Currently, online gambling as a whole is a $46 Billion/year market. Depending on estimates, that figure is expected to reach $50 Billion/year by 2019. At the same time, due the benefits of both the player and operator, cryptocurrency gambling is going to ‘eat into’ this market gradually year over year.

Based on Monster Byte’s solid reputation and long-standing history in this young niche market, as well as their expansion into B2B operations this is an ICO that is sure to go quickly.

Visit our website and sign up for our newsletter to get the latest updates on the ICO and presale. You can also connect with us on Slack and on BitcoinTalk.

[Disclaimer: Bitcoinist accepts money to publish press releases in the dedicated PR section. However, we do not endorse and cannot guarantee any claims contained in these press releases. We advise our readers to always do their due diligence before sending any money to companies and services, particularly those who guarantee profits. Remember, if it sounds too good to be true, it probably is.]

Upcoming Events

From November 19 to 21, 2018, the key event of the year in the Ukrainian energy sector, the Ukrainian Energy Week ’18, will take place in the NSC “Olimpiyskiy”. Here will meet the most influential representatives of national and foreign … Continue reading →

It is our pleasure to invite you to the speech 100 Years of U.S.-Czech Economic Relations: Towards the Next 100 by the US Ambassador to the Czech Republic, H.E. Stephen King. If you wish to attend the event, please register … Continue reading →

From November 19 to 21, 2018, the key event of the year in the Ukrainian energy sector, the Ukrainian Energy Week ’18, will take place in the NSC “Olimpiyskiy”. Here will meet the most influential representatives of national and foreign … Continue reading →

👉 Welcome to the first SOCIAL INNOVATION WEEKEND in Central Europe organized in cooperation with all Visegrad countries. Our goal is to change the future of key social topics. The challenges of the first ever innovative weekend are going to … Continue reading →